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The building that was once the headquarters of Ford’s Premier Auto Group in Irvine, Calif., has been leased to Taco Bell

IRVINE, Calif. — The building that once served as headquarters for Ford Motor Company’s Premier Automotive Group has been leased to Taco Bell.

Details of the 10-year lease to the division of Yum Brands, Inc., of Louisville, Ky., were announced here this week. The five-story 181,000-square-foot building will house Taco Bell’s corporate headquarters, starting in early 2010.

Ford built the swank, energy-efficient complex in 2001, which also includes a separate 90,000-square-foot product development center, at a cost of about $68 million.

Ford’s boutique brands division has been broken up. Aston Martin was sold to a Kuwaiti investment company last year. Jaguar and Land Rover were sold to Tata Motors of India in June. And Volvo, which Ford still retains, is relocating to New Jersey.

About 125 current Ford employees will remain at the site, and be integrated into the smaller building with the product development operation, Ford announced.

No word yet on what will happen to the popular car show held in the Ford complex’s parking lot each Saturday morning.

Volvo used to have its North American headquarters in New Jersey, before Ford bought them and moved the operation out to California. So for people who have been with Volvo since then, it will be akin to returning home. For others, it will be a major sea-change.

Now if only Ford could find someone willing to take over the marque and treat it properly.

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